Artis Real Estate Investment Trust Unit (TSE:AX.UN) Lowered to “Underperform” Rating by Scotiabank

Scotiabank lowered shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN) from a sector perform rating to an underperform rating in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has C$7.50 price objective on the stock.

Artis Real Estate Investment Trust Unit Trading Down 2.8%

Shares of AX.UN opened at C$6.97 on Tuesday. The firm has a fifty day simple moving average of C$7.40 and a two-hundred day simple moving average of C$7.39. Artis Real Estate Investment Trust Unit has a twelve month low of C$6.27 and a twelve month high of C$8.38. The company has a quick ratio of 0.07, a current ratio of 0.78 and a debt-to-equity ratio of 104.62. The stock has a market capitalization of C$674.23 million, a P/E ratio of -10.89 and a beta of 0.77.

About Artis Real Estate Investment Trust Unit

Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada. Artis REIT’s portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin.